The manager should accept been or directly a greater practitioner in general statementancy. 14. The forthcoming sectors represented by the PICA to the companionship of AAAS accept one symbolical, ate a. Empire c. Commerce and activity b. General exercise d. Academe 15. Statements on financial statementing standards constituting GAP are issued by the a.
Philippine Institute of Spas. C. Audit Standards and Practices Council. B. Securities and Exchange Commission. D. Accounting Standards Council. 16. Indicate whether the forthcoming functions would be produced by: P S - Greater M - Manager AS - Audit Assistant (1) Supervises two or past coetaneous audit engagements Performs specific audit procedures Overall obligation for audit Signs audit ment s d. 17. The equality of audit fees exist abundantly on the - Partner a. Size and highization of the concourse inferior audit. B. Equality of avail for the year. C. Availability of currency. . Volume of audit comcollocation and measure of power and responsibilities implicated. Page 3 of 7 18. In determining audit fees, an voucher may grasp into statement each of the forthcoming ate a. Volume and entanglement of comcollocation implicated. C. Number and require of manors needed. B. Measure of obligation antecedent. D. Size and equality of high of client. 19. Inferior this process of billing a client, the exterior vouchers jaw on the reason of term departed by principals/partners, supervisors, greaters and Juniors at predetermined rates agreed upon behind a while the client Maximum fee reason c.
Flat sum reason Retainer reason d. Per diem reason RA No. 9298 - Philippine Accountancy Act of 2004 and its AIR 1 . Which of the forthcoming is not one of the specified objectives of the Accountancy Act of 2004? A. Examination for registration of Spas. B. Supervision, regulate, and precept of statementing exercise. C. Standardization and precept of statementing education. D. Promulgation of statementing and auditing standards. In all of the forthcoming situations ate one, a special is deemed to be assiduous in administrative statementing exercise.
Which of them is the ateion? A. Performing audits or verity of financial transactions and history for past than one client. B. Assiduous as the province manager that supervises the BAS program of an educational state. C. Avocation as regulateler of a not-general profession enterprise and such avocation squires that the holder thereof should be a CPA. D. Appointment in the empire where primeval measure respectful use eligibility is a prerequisite. A special is not deemed to be assiduous in administrative statementing exercise if a.
Her barely holds himself out as serviceable in the skill and exercise of statementing and adapted to present uses as a CPA. B. He barely offers to present uses as a CPA to the general, but does not substantially present such uses. C. He offers or presents bookkeeping uses to past than one client. D. He installs and revises statementing systems for past than one client. Exercise in General Accountancy shall organize in a special a. Implicated in firmness making requiring administrative scholarship in the skill of statementing, or when such avocation or collocation requires that the holder thereof must be a known general statementant. . In an educational state which confound training of statementing, auditing, empire advisory uses, finance, profession law, taxation, and other technically cognate subjects. C. Who holds, or is appointed to, a collocation in an statementing administrative clump in empire or in a empire owned and/or regulateled repair, including those performing proprietary functions, where firmness making requires administrative scholarship in the skill of statementing, d.
Holding out himself/herself as one serviceable in the scholarship, skill and exercise of statementing, and as a adapted special to present administrative uses as a known general statementant; or offering or presenting, or twain, to past than one client on a fee reason or differently. Any collocation in any profession or concourse in the not-general sector which requires supervising the recording of financial transactions, prepair of financial tenements, coordinating behind a while the exterior vouchers for the audit of such financial statements and other cognate functions shall be amenable singly by a duly registered CPA.
Provided (cull the inexact one) a. That the profession or concourse where the over collocation exists has a paid-up high of at last and/or an annual income of at last b. The over supply shall use singly to specials to be assiduous behind the effectively of the Implementing Rules and Regulations of RA 9298. C. The over supply shall not upshot to gratuity of the avocation of incumbents to the collocation. D. None of the over.